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My v1 was stainless steel. I think it's a waste of money so I went with aluminum this time around. (And I don't have a lot of price sensitivity; I normally buy what I want. But in this case, there is zero practical difference IMO)

It would be one thing if Apple Watch is a mature product with some staying power after your purchase, but it's not. Apple is clearly still on a market discovery path with Apple Watch.

Plus, I like the aluminum black too given how big the Apple watch is, it makes it a bit more subtle on the wrist.
I ended up choosing the Series 1, which only comes in aluminum, mostly because that's all that is in stock and partly because I don't need stand-alone GPS and water resistance to 50 meters. This is my first Apple Watch and so far I love it.
 
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